I understand that words matter. In that regard my earlier post may have been imprecise in calling the regulation a law. Regardless, if you fly without registering you are risking fines up to $27,500.00. The legality of this regulation is really only an issue because the FAA did not post the proposal for a long enough period of time based on their own guidelines. That, however, is probably not going to change things.
Lastly, and although I am a small government kind of guy, I think we should welcome this regulation. And that is simply because it will help to make most quad pilots more aware of common sense operating procedures and it will help the public to feel safer. These are good things for our hobby.